Franks View Points
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Total Posts: 23
In light of the reports of the excessive profits of Exxon Mobile I want to make this point clear to everone so that prudence may dictate and so that we properly address the true villian of our economic situation. I am going to present to you a quote from John Maynard keynes, from his work, The Economic Consequences of the Peace, 1919.
These 'profiteers' are, broadly speaking, the entrepreneur class of capitalists, that is to say, the active and constructive element in the whole capitalist society, who in a period of rapidly rising prices cannot but get rich quick whether they wish it or desire it or not. If prices are continually rising, every trader who has purchased for stock or owns property and plant inevitably makes profits. By directing hatred against this class, therefore, the European governments are carrying a step further the fatal process which the subtle mind of Lenin had consciously conceived. The profiteers are a consequence and not a cause of rising prices. By combining a popular hatred of the class of entrepreneurs with the blow already given to social security by the violent and arbitrary disturbance of contract and of the established equilibrium of wealth which is the inevitable result of inflation, these governments are fast rendering impossible a continuance of the social and economic order of the nineteenth century.
If we fall into the trap of blaming any other party, for this profiteering, other than our national government for foolish monetary and fiscal policy then we will reap a planned economy, an economy in which governments are respondsible for the supply of essential , if not all, commodities, goods, and services. After the election ,if it goes as projected ,then we will hear alot about Keynes to justify massive spending increases, and new regulations. Among the new regulations will be wage and price controls, national speed limits once more, and other regulations to control consumer spending. Are we like Essau ready to give up our birth right of liberty for temporal satisfaction?
Posted: 11/1/2008
